Producer Prices in Eurozone
Eurozone - Producer Prices
Inflation rises further in January
Harmonized inflation inched up to 1.4% in January from December’s 1.3% and therefore marked the highest reading since February 2019, according to a flash estimate released by Eurostat on 31 January. Despite the pick-up, the result is still below the European Central Bank’s target rate of near, but under, 2.0%. January’s increase was due to a marked acceleration in energy prices as well as to faster price increases for food, alcohol and tobacco, while the increase in prices for services moderated.
On a monthly basis, harmonized prices are expected to have dropped 1.0% in January, contrasting December’s 0.3% increase. Core inflation, which excludes volatile energy and unprocessed foods prices, was ticked down from 1.4% in December to 1.3% in the first month of 2020.
Commenting on the release, Bert Colijn, Eurozone senior economist at ING, stated:
“A reading just over 1% seems to be in line with the current economic situation, which means that any excitement among hawks at the higher core rate of the past two months has been premature. The ECB is on autopilot for the moment and these inflation numbers confirm that quite clearly.”
A complete set of data for harmonized inflation will be released on 21 February.
FocusEconomics Consensus Forecast participants see inflation in the Euro area averaging 1.3% in 2020. For 2021, panelists expect inflation to average 1.4%.
Eurozone - Producer Prices Data
|Inflation (PPI, annual variation in %)||-1.5||-2.6||-2.1||3.0||3.2|
5 years of economic forecasts for more than 30 economic indicators.
Eurozone Producer Prices Chart
|Exchange Rate||1.12||0.65 %||Dec 31|
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February 14, 2020
A second estimate reaffirmed that the Eurozone economy slowed sharply in the final quarter of last year, after growth picked up in the third quarter.
February 12, 2020
Industrial output dived a seasonally-adjusted 2.1% over the previous month in December, following November’s flat reading.
January 31, 2020
Harmonized inflation inched up to 1.4% in January from December’s 1.3% and therefore marked the highest reading since February 2019, according to a flash estimate released by Eurostat on 31 January.
January 31, 2020
The Eurozone economy slowed sharply in the final quarter of last year, after growth picked up in the third quarter.
January 30, 2020
Labor market conditions in the common currency bloc improved in December, according to data released by Eurostat.